This Week in Futures Options

This week's CME hot seat guest is Sean Smith from FTSE Russell. Topics this week include: Russell Index Crude Oil WTI/Brent Winners: Oats, Feeder Cattle Losers: Silver, Iron Ore Futures Options Feedback: Listeners take over the show Volatility Views/TWIFO Flash Poll: With $SPX #Volatility -aka $VIX- in single digits where are you getting your index vol fix these days? Russell 2000: $RVX, $IWM Dow: $DJIA, $VXD, etc. NASDAQ: $QQQ, $VXN, etc. Buying $VIX for rebound. Listener questions: Question from Andrade8 - If RUT and QQQ Vol is always higher than SPY does that mean you're getting paid more to sell OTM puts? Question from BLM3 - Is there a big arb between $USO and WTI? Question from Bruno - No love for rates on TWIFO? Question from Lincoln G - You buying what Dimon is selling about Bitcoin? Question from Tatank - Crypto 20X v. other asset classes. Bitcoin for the win.

This episode features special guest Erik Norland, Executive Director and Senior Economist of CME Group Topics this week include: Gold Crude Oil Winners: Nat Gas, WTI Losers: Lean Hogs, Iron Ore Futures Options Feedback: Listeners weigh in Options Question of the Week: First #Harvey, then #Irma, now #Jose & more. We prep houses/cars/family for #disasters. How do you prep your portfolio? Get Long $VIX/$VXX/$UVXY Go To Cash/T-bills Buy Index/Stock Puts "Risk Assets" - Gold, etc. Listener Questions: Question from Uriah - I think CME should do an updated version of the collar study but on futures options? There are a lot of markets on the CME platform that seem well suited to collar trading. Question from Tomseh - Can we get a quicktrike skew index that we can track and trade?

Topics This Week Include: A reprise of Uncle Mike's silver collar What's happening to gold as a result of global unrest? Uncle Mike channels Scrooge McDuck Hurricanes not yet pummeling crude prices Futures Options Feedback: Listener questions and comments Question from LLCC: Why do you think gold performed so well in the collar study? Question from Nelent: How did silver do in that OCC study? Same as gold?

Topics this week include: Crude Gold Winners - R-Bob, Heating Oil Losers - Oats, Milk Futures Options Feedback: Question from JLC - Where can I get the collar study referenced on the show? Question from Mark T. - So which assets perform the best from a collar perspective? Question from Toms - New OIC study coming soon? Question from J. Marello - I heard that time decay doesn’t impact straddles the same way in futures options that it does in stocks. Is that true and are straddles better to buy in futures options for this reason?

Topics this week include: S&P and other indexes Silver and Gold Crude Oil Winners: Copper, Soybean oil Losers: Lean hogs, corn Futures Options Feedback: Listener questions and comments Question from Sho Odwa - Hi! Which website publishes real-time commodity options quotes Comment from Allan - I would have thought KC Wheat would be the winner? Question from NN0M - Why did Tosaw put on a two year collar in silver? Why that time frame? Question from ReallyG - Love your #podcasts! Question: market profile displays limit orders. Is there a service that displays stop orders? Just wondering Question from TheBiggers: Calls are typically more bid in futures options than equity options. So does it stand that collars are more effective in futures options?

Topics this week include: S&P/E-minis Crude Gold Winner: Palladium Futures Options Feedback: Question of the week Which major index has experienced the largest % change in 30-day ATM #Volatility year-to-date? S&P 500 Nasdaq 100 Dow Russell 2000 Listener questions and comments: Question from Chuck M - I like the TWIFO show esp. Winners losers. Q - What about winners for the year so far? Question from Tomzek - How do I get winner loser scan on cmegroup.com/twifo? Comment from HPpetition - Is buying $S&P OTM puts "free money" like #DoubleLine says - no but selling OTM $S&P puts is. Question from Nils - I am confused about option contract specs in WTI. If I sell 1 put in WTI how many barrels of oil am I risking getting long?

Today's special guests are Joe Sullivan & JJ OKeefe, Chicago Capital Markets Topics this week include: S&P/Indexes Floor-based execution Volatility and skew Listener question: Do e-mini, SPY and SPX skew all line up in the same way? Metals: Silver/Gold Futures Options Feedback: Listeners weigh in Question from Chris Thomas: Nick always talks about taking advantage of the skew. Creating a collar, buying the underlying, selling a call with high vol and buying cheap put protection or doing the opposite of that trade if the put has higher vol. I don't have as much experience with futures as I do indices, but "taking advantage of the skew" using spy for example would certainly have lost a ton of money over the past few years (if you shorted stock, sold puts and bought calls). I am definitely leaning more towards selling spreads on the side with high skew in futures because that has made a ton of money over the past few years in SPY and I don't seem to be making money on these collars. Any opinion on this? Anyways, thanks for everything you do and thank Nick for the awesome software.

Topics this week include: Crude Iron Ore Soybeans Futures Options Feedback: Questions, comments, and more Last week's Options Question of the Week: With VIX circling the drain, where are you looking for your next volatility fix? 39% - Nasdaq 100 16% - Russell 2000 20% - Commodities 25% - Single Names Listener questions: Listeners share what's on their minds Question from Tanney9: What do you guys think of lack of OI in UUP? Is there another way to play the US$ that I I'm missing? Comment from Michael C. Khouw: Here is how they compare: Question from Jack S: Doesn't WTI go out 5 years? Question from Nils - Am I looking at quickskew graph correct? Top line goes up = call Vol goes up? Bottom line goes up = put Vol goes up? TWIFO Flash Poll: What do you think of the planned launch of cash-settled #Bitcoin futures later this year I Can't Wait! I'm Not Interested! I'm Somewhat Curious I'm Waiting for Ethereum

This week the CME hot seat guest is Ron Bundy, CEO Benchmarks North America, FTSE Russell. Topics this week include: Russell 2000 Crude Oil Interest Rates Futures Options Feedback: Listeners weigh in. Options Question of the Week: With $VIX circling the drain, where are you looking for your next #Volatility fix? Nasdaq 100 - $QQQ Russell 2000 Commodities-Oil, Gold,etc. Single Names (AMZN, etc.) Listener Questions and Comments: Question from J Randall - S&P skew is pretty standard at this point. How do the other major indexes like NASDAQ and Russell compare? Steeper? Are the puts as rich? Question from NN02 - Crude still lining up for bullish risk reversals here or has that ship sailed? Comment from Tim D. - My crazy product vote is crude because it is crazy! Question from Andrew - How long are the reports live during the show?

Today's CME hotseat guest is Matt Bradbard, Director of Alternative Investments, RCM Topics this week include: Where is the vol? New Zealand Dollar (our surprise product of the week) Crude Oil Corn Futures Options Feedback: Polls, questions, comments and more! TWIFO Flash Poll: Which Options product had largest % change in open interest over the past week? 50% - Soybeans 25% - Emini Nasdaq 100 8% - Copper 17% - Live Cattle Questions and Comments: Comment from LilChech - My vote for crazy CME product is oats. Who trades oats? Question from Eve4 - You talked gold collars a few eps back. Silver has been selling off. Is this a good time for a silver collar? Question from Antim - How far out can I go in most CME options? Can I go out as far as a LEAP? Question from BulzEye7 - Are options worth it for day-traders? Or just for swing-traders? Comments on Bitcoin - What could go wrong? Re: CFTC approves options trading in Bitcoin. Can you short BTC?